Federal Return of Title IV Refund Aid Policy
Title IV Financial Aid – Federal Pell Grant, FSEOG, and Direct Loans*
If you withdraw from all classes in a semester/term, Federal regulations require that Savannah Tech calculate the amount of “earned” and “unearned” financial aid for the semester/term. The amount of Title IV aid earned is first used to pay the tuition, fees, and Campus Shop charges deferred to your student aid account. If any funds remain after deducting 100% of tuition and fee charges, you will receive the balance. If the amount of Title IV aid earned is not sufficient to cover the tuition, fee, and Campus Shop charges, you will be responsible for paying the balance due.
The “earned” percentage is determined by dividing the number of calendar days in the semester/term up through the date of withdrawal divided by the number of calendar days in the semester/term. If you complete 60% or more of the semester, you earn 100% of the financial aid for that period. If you withdraw before completing 60%, the amount of aid “unearned” is returned to the Department of Education.
*Effective fall 2014, Savannah Technical College will no longer offer Federal Direct Stafford Loans.